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CA SB1271

Bill

Official Source

Status

Passed

9/29/2014

Primary Sponsor

Noreen Evans

Click for details

Origin

Senate

2013-2014 Session

AI Summary

  • Excludes from gross income any student loan amounts repaid or canceled by the U.S. Secretary of Education under federal law (20 U.S.C. Section 1098e)
  • Applies to taxable years beginning on or after January 1, 2014
  • Takes effect immediately as a tax levy
  • Approved by Governor on September 29, 2014

Legislative Description

Personal Income Tax Law: cancellation of indebtedness: student loan forgiveness.

Last Action

Chaptered by Secretary of State. Chapter 841, Statutes of 2014.

9/29/2014

Committee Referrals

Revenue and Taxation8/27/2014
Rules8/22/2014
Utilities and Commerce5/15/2014
Governance and Finance3/6/2014
Rules2/21/2014

Full Bill Text

No bill text available